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Monthly US construction spending declines in April

U.S. construction spending fell at a seasonally adjusted annual rate of 1.4% in April, from March, amid declines in private and public construction spending, according to the U.S. Census Bureau.

Overall construction spending reached $1.219 trillion, down from the revised estimate of $1.236 trillion in March but up 6.7% year over year.

Spending on private construction totaled $943.3 billion in April, down 0.7% from the revised estimate of $949.7 billion a month ago. Both residential and nonresidential construction fell month over month.

Meanwhile, public construction spending was $275.3 billion in April, down 3.7% from the previous month.